Tredje AP fonden boosted its stake in shares of ONEOK, Inc. (NYSE:OKE) by 6.1% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 40,388 shares of the utilities provider’s stock after purchasing an additional 2,338 shares during the period. Tredje AP fonden’s holdings in ONEOK were worth $2,238,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently modified their holdings of OKE. Dimensional Fund Advisors LP raised its stake in ONEOK by 1.5% in the second quarter. Dimensional Fund Advisors LP now owns 912,694 shares of the utilities provider’s stock valued at $47,603,000 after buying an additional 13,443 shares during the period. Cipher Capital LP raised its stake in ONEOK by 166.9% in the second quarter. Cipher Capital LP now owns 56,337 shares of the utilities provider’s stock valued at $2,938,000 after buying an additional 35,228 shares during the period. Starr International Co. Inc. bought a new stake in ONEOK in the third quarter valued at approximately $8,089,000. Crawford Investment Counsel Inc. raised its stake in ONEOK by 61.2% in the second quarter. Crawford Investment Counsel Inc. now owns 40,635 shares of the utilities provider’s stock valued at $2,120,000 after buying an additional 15,427 shares during the period. Finally, Wells Fargo & Company MN raised its stake in ONEOK by 42.7% in the second quarter. Wells Fargo & Company MN now owns 1,010,968 shares of the utilities provider’s stock valued at $52,732,000 after buying an additional 302,407 shares during the period. 71.02% of the stock is owned by hedge funds and other institutional investors.
In related news, Director Brian L. Derksen acquired 1,800 shares of the stock in a transaction on Monday, November 20th. The shares were purchased at an average price of $51.00 per share, for a total transaction of $91,800.00. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. 1.00% of the stock is owned by company insiders.
ONEOK (NYSE:OKE) last announced its earnings results on Tuesday, October 31st. The utilities provider reported $0.43 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.49 by ($0.06). ONEOK had a return on equity of 9.25% and a net margin of 3.76%. The firm had revenue of $2.91 billion for the quarter, compared to the consensus estimate of $2.80 billion. During the same quarter last year, the business posted $0.43 EPS. research analysts predict that ONEOK, Inc. will post 1.73 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 14th. Shareholders of record on Monday, November 6th were paid a dividend of $0.745 per share. The ex-dividend date was Friday, November 3rd. This represents a $2.98 dividend on an annualized basis and a yield of 5.69%. ONEOK’s dividend payout ratio (DPR) is presently 186.25%.
Several analysts have issued reports on the company. UBS upped their price objective on ONEOK from $60.00 to $61.00 and gave the company a “buy” rating in a research note on Wednesday, November 1st. BidaskClub lowered ONEOK from a “hold” rating to a “sell” rating in a research note on Thursday, August 17th. Mizuho initiated coverage on ONEOK in a research note on Tuesday, October 10th. They set a “neutral” rating and a $59.00 target price on the stock. Barclays initiated coverage on ONEOK in a research note on Tuesday, September 5th. They set an “equal weight” rating and a $58.00 target price on the stock. Finally, Jefferies Group reiterated a “hold” rating and set a $52.00 target price (up previously from $51.00) on shares of ONEOK in a research note on Friday, September 1st. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of $59.07.
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ONEOK, Inc is an energy midstream service provider in the United States. The Company owns and operates natural gas liquids (NGL) systems, and is engaged in the gathering, processing, storage and transportation of natural gas. THe Company’s operations include a 38,000-mile integrated network of NGL and natural gas pipelines, processing plants, fractionators and storage facilities in the Mid-Continent, Williston, Permian and Rocky Mountain regions.
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